Platinum futures climbed toward $2,200 an ounce, hitting a three-week high, as renewed tariff uncertainty and ongoing geopolitical tensions boosted demand for safe-haven metals. President Donald Trump raised global tariffs from 10% to 15% after the US Supreme Court struck down a large portion of his earlier trade measures, prompting concern over trade disruptions. Europe’s trade chief indicated he may suspend ratification of a US deal, and India delayed interim trade talks, though US Trade Representative Jamieson Greer confirmed that existing arrangements with China, the EU, Japan, and South Korea remain intact. Heightened geopolitical risk also supported the rally, with fears of potential US military action against Iran amid stalled nuclear negotiations, even as diplomats plan to reconvene in Geneva later this week. Platinum remained historically high amid ongoing supply tightness, particularly from South Africa, while demand remains underpinned by automotive catalysts.
